JPMorgan Chase & Co. Cuts Stake in International Game Technology PLC (NYSE:IGT)

JPMorgan Chase & Co. cut its holdings in shares of International Game Technology PLC (NYSE:IGT) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 284,451 shares of the company’s stock after selling 110,321 shares during the quarter. JPMorgan Chase & Co. owned 0.14% of International Game Technology worth $6,059,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its stake in International Game Technology by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after purchasing an additional 47,442 shares during the last quarter. FMR LLC lifted its stake in shares of International Game Technology by 19.4% in the 3rd quarter. FMR LLC now owns 3,050,447 shares of the company’s stock valued at $64,975,000 after acquiring an additional 495,962 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after acquiring an additional 995,570 shares during the period. Solel Partners LP purchased a new stake in International Game Technology during the 2nd quarter valued at about $43,478,000. Finally, State Street Corp grew its position in International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after acquiring an additional 21,295 shares during the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Trading Up 0.3 %

IGT opened at $17.52 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology PLC has a 52 week low of $16.83 and a 52 week high of $27.27. The stock has a market cap of $3.49 billion, a PE ratio of 29.20 and a beta of 1.92. The business has a 50 day moving average of $18.64 and a 200-day moving average of $20.32.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). The firm had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. Equities research analysts predict that International Game Technology PLC will post 1 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.57%. International Game Technology’s payout ratio is 133.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IGT. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Truist Financial cut their price target on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.